The Croatian market, due to yesterday’s non-working day, seems to be trying to catch up with global exchanges this morning. Although indices in Europe are rising due to the United Kingdom’s decision to inject an additional £87 million into the system, guaranteeing interbank loans, the situation on the Zagreb Stock Exchange is quite the opposite.
In the first hour, the index plummeted 8.16 percent with countless trading suspensions. In the first hour, shares worth 33 million kuna were traded, što indicating total panic among investors and a possible turnover of a hundred million kuna or more by the end of the day. The most liquid stock is HT with just over nine million kuna in turnover and a moderate price drop of 4.96 percent. HT is currently trading at a price of 227 kuna, so investors who have not yet sold shares purchased in the IPO by the end of the day can expect losses, despite the additional shares they received on Thursday. Inom is trading at a price of 2,150 kuna, and due to a price drop of more than ten percent, trading has been temporarily suspended. The stock of Jadransko osiguranje, which achieved a turnover of only 200 thousand kuna, and Karlovačka banka with a turnover of about fifty thousand kuna, are currently the only stocks on the exchange that are recording a price increase. Undoubtedly, we are facing another in a series of turbulent days on the stock exchange. (Amir Kulenović)
*The author owns shares of HT
